Cardano’s ADA Holds Strong as Investors Bet Big on a $2 Target
Cardano (ADA) continues to maintain its price around the $1.20 level, after a significant surge in the past 30 days. Despite giving up some of its earlier weekly gains, analysts believe the cryptocurrency is holding strong and preparing for a potential rally that could push its price towards $2.
Key support levels play a vital role in this outlook, with a critical range identified between $1.11 and $1.21. Maintaining this zone is essential for sustaining bullish momentum, as it acts as a pivot point for further price growth. A drop below $1.11, however, could signal short-term weakness, though the broader trend remains intact as long as ADA holds above $0.644, a key Fibonacci retracement level.
Technical analysis suggests that ADA could form higher highs and higher lows, a pattern essential for continued price increases. If bullish momentum persists, analysts predict ADA may target price levels ranging from $1.72 to $2.95. Breaking through the resistance around $1.32–$1.33, a significant previous high, would further solidify this trajectory, opening the door to the next targets at $1.49 and beyond.
The technical indicators support a positive outlook, with the MACD signaling a bullish crossover and its histogram transitioning from red to green, reflecting increased buying pressure. These factors indicate strengthening upward momentum for ADA/USD.
Meanwhile, the activity of large-scale investors, or whales, has added another layer of optimism to ADA’s trajectory. In a recent surge, whales purchased $276 million worth of ADA, with 100 million tokens acquired in a single day. This accumulation reflects growing confidence in Cardano, particularly as the altcoin market heats up, driving both retail and institutional demand.
Cardano’s Price Dip: An Opportunity for Investors Eyeing a Recovery
Cardano (ADA) has recently seen a notable decline in its price, dropping by 22% in the past few days. While this decrease might raise concerns for some, it may actually present an attractive opportunity for long-term investors. The current dip is being viewed as a chance for buyers to acquire ADA at lower prices, fueling […]
Cardano Shows Strong Momentum Amid Bullish Market Trends
Cardano (ADA) has been on a remarkable rally, climbing nearly 42% over the past week and capturing the attention of crypto enthusiasts. This strong uptrend is backed by technical indicators like the ADX, which signal sustained bullish momentum. However, short-term market signals hint at potential consolidation ahead if buying pressure falters. The Average Directional Index […]
Cardano Sees Strong Price Momentum as Analysts Set Bullish Targets
The cryptocurrency’s daily trading volume has reached a seven-month high, topping $52 billion, while whale transactions have also spiked, reaching levels not seen in six months. In addition to this, the open interest (OI) in ADA futures has increased significantly, with OI hitting $735 million. This growing momentum has prompted analysts to reassess Cardano’s potential […]
Cardano Sees Steady Growth as Big Holders Lock In for the Long Term
With Cardano whales holding off on selling, ADA gained 3.66% in the last day, supporting a slow but steady climb. The latest data indicates a significant decrease in the “Large Holder Netflow” metric for ADA, which measures the net inflow and outflow of assets held by major investors. This metric fell by 1,181.52% over the […]
-
1
Cardano’s Price Dip: An Opportunity for Investors Eyeing a Recovery
04.02.2025 19:00 2 min. read -
2
Cardano Shows Strength – is a $10 Surge Possible?
05.03.2024 20:05 2 min. read -
3
Cardano Sees Steady Growth as Big Holders Lock In for the Long Term
07.11.2024 13:00 2 min. read -
4
Cardano Sees Strong Price Momentum as Analysts Set Bullish Targets
21.11.2024 14:00 2 min. read -
5
Cardano Shows Strong Momentum Amid Bullish Market Trends
22.11.2024 9:00 1 min. read